Samsung should forget the Note ever happened, analysts say

With Samsung's Note series only accounting for 5 to 6 percent of the company's smartphone unit shipments, the company could bounce back from its recent flaming-phone scandal, analyst Mehdi Hosseini said.

The Susquehanna senior equity analyst said Tuesday that Samsung's expected release of its newest smartphone, the Galaxy S8, in early 2017, could help the company redirect attention from the Note series and offset some of the recent negativity surrounding the company.

"The Galaxy series is completely different and focused on a different part of the population," Hosseini told CNBC's "Squawk on the Street."

The analyst said that the company's profit is improving in other areas, and if it is able to focus on its more popular Galaxy phones and steer attention away from the Note series, it could succeed in protecting its brand.

Hosseini added that Samsung's brand and image are most in need of repair at this point.

Timothy Long, managing director at BMO, had a similar outlook. "There might be some brand damage. There could even be impact to the broader Samsung shipments," he told CNBC's "Squawk Alley" on Tuesday.

That being said, the analyst contended that most consumers who would have bought the Galaxy Note 7 will probably still purchase products running an Android operating system.

He assumed some would divert to the Galaxy S7, some to other Android vendors and a few to Apple.

With regard to the phone's extreme malfunctions, Long said the future is difficult to predict between now and the release of the Galaxy S8. "We've never really seen anything to this magnitude, so I think it's going to be a few quarters before we know what the future of the Note 7s will be," he said.

Long added that it was surprising this would happen at Samsung, which is known for its superior hardware.

"They have a lot of this technology in house, from semiconductors to screens, so they'd probably be the least likely one that this would happen to, but here we are today," Long said.